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that reflects the michigan consumer sentiment which dropped dramatically during the fiscal cliff. washington is helping kind of kill consumer confidence because people are saying -- >> washington is hurting the economy. >> washington is hurting the economy. i absolutely believe that is true. because people are saying hey those are the grown-ups and that's what's happening. who is in charge? and it's killing -- every time we get a little better, 2011, the debt ceiling, and today, washington keeps making it worse. >> peter hart, there is also another aspect where the president stands right now and we wanted to put it in historical terms. this is the third straight two-term presidency so the third straight second inaugural we'll have if you will. >> right. >> it is similarities between obama and bush. this has been 2004 and 2012. very similar elections. they're in the same standing. where is the direction of the country, under clinton 46%. 40%. 35%. wrong track, though. clinton 38%. so he was a net positive. both bush and obama facing a net negative. when you see these numbers and yo
that reflects the michigan consumer sentiment which dropped dramatically during the fiscal cliff. washington is helping kind of kill consumer confidence because people are saying -- >> washington is hurting the economy. >> washington is hurting the economy. i absolutely believe that is true. because people are saying hey those are the grown-ups and that's what's happening. who is in charge? and it's killing -- every time we get a little better, 2011, the debt ceiling, and today,...
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Dec 6, 2012
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. >>> back here at home, fiscal cliff negotiations in washington are still up in the air. most lawmakers have gone home for a long weekend break. this as timothy geithner says the obama administration is willing to go over the fiscal cliff. nbc's tracie potts joins us live from washington with an update. good morning to you. >> reporter: let's start with geithner. he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over this cliff which means they're willing to let your taxes go up and unemployment checks go away massive spending cuts happen if the pentagon instead of continuing the tax breaks for the wealthy. now there's been very little progress here on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many law
. >>> back here at home, fiscal cliff negotiations in washington are still up in the air. most lawmakers have gone home for a long weekend break. this as timothy geithner says the obama administration is willing to go over the fiscal cliff. nbc's tracie potts joins us live from washington with an update. good morning to you. >> reporter: let's start with geithner. he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over...
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Dec 27, 2012
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all eyes on the fiscal cliff talks in washington. on the radar, deadly storms trigger travel chaos. good news about nelson mandela's health and a very, very expensive day for toyota. first the storm system that claimed at least lives. overnight it pushed from indiana to maine. some areas got heavy snow and it's expected through the northeast today. it triggered a portfolio christmas travel nightmare. 2,000 flights have been canceled and 10,000 have been delayed. spending a lot of time with in-laws because of the weather. south african president nelson mandela is out of the hospital. the 94-year-old will receive home-based care. he is recovering from a lung infection and a procedure to remove gall stones. toyota agreed to a $1.1 billion class action settlement over complaints that cars accelerated without warning. owners of 16 million toyota, lexus and sion vehicles will be eligible depending on the make and the model. what a story that was years ago. with gridlock in capitol hill synonymous, there lessons to be learned from dwight eisenhower's success in working by the opposing part
all eyes on the fiscal cliff talks in washington. on the radar, deadly storms trigger travel chaos. good news about nelson mandela's health and a very, very expensive day for toyota. first the storm system that claimed at least lives. overnight it pushed from indiana to maine. some areas got heavy snow and it's expected through the northeast today. it triggered a portfolio christmas travel nightmare. 2,000 flights have been canceled and 10,000 have been delayed. spending a lot of time with...
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Dec 12, 2012
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we're one day closer to the dreaded fiscal cliff and washington is freezing over. >>> the fiscal cliff is coming to town. >> he says he's an optimist. >> i remain optimistic. >> i remain the most optimistic person in this town. >> but he doesn't sound optimistic. >> i'm pretty confident republicans would not hold middle class taxes hostage. >> we've got differences. >> taxes are going up one way or the other. >> the president and i had a deliberate talk. >> the key is to make sure the taxes go up on the high end individuals like you and me, barbara. we can afford it. >> they're going to have to cave in on this rate increase on the rich. >> we're going to stay here right up until christmas eve. >> the time is running short. >> merry cliffmas. ♪ >>> bundle up, everybody. because it is cold out there. and with just 12 days to hanging our stockings by the chimney and 20 days until the dreaded fiscal cliff, there's a distinct chill in the air. after the exchange of new offers, the president phones john boehner last night for one what aide described as a tense call. the speaker today, he h
we're one day closer to the dreaded fiscal cliff and washington is freezing over. >>> the fiscal cliff is coming to town. >> he says he's an optimist. >> i remain optimistic. >> i remain the most optimistic person in this town. >> but he doesn't sound optimistic. >> i'm pretty confident republicans would not hold middle class taxes hostage. >> we've got differences. >> taxes are going up one way or the other. >> the president and i had a...
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Nov 29, 2012
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takes on the fiscal cliff. he's asking people to use the #my2k to explain what they would do with the $2,000 that could be lost to a middle class tax hike. one user talks about buying a mac book. the other talks about the child they're expecting and making the mortgage. but the president is also finding some critics. one of whom wants details on spending cuts. tennessee republican congresswoman marcia blackburn is not thrilled with the fact that all the chair manships voted on yesterday, 19 out of 21, none of them went to women. she says women should be elevated any time there's an opportunity. >>> mitt romney isn't just having lunch with president obama today. he's also seeing running mate paul ryan for the first time since the election. finally, michelle obama unveiled the holiday decorations at the white house which featured 54 christmas trees, a gingerbread house and a statue of the first dog which looked real. >>> let's go to wall street where markets did see a boost. the dow opens at 12,985. that is after
takes on the fiscal cliff. he's asking people to use the #my2k to explain what they would do with the $2,000 that could be lost to a middle class tax hike. one user talks about buying a mac book. the other talks about the child they're expecting and making the mortgage. but the president is also finding some critics. one of whom wants details on spending cuts. tennessee republican congresswoman marcia blackburn is not thrilled with the fact that all the chair manships voted on yesterday, 19 out...
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Dec 19, 2012
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. >>> though there seems to be progress still no fiscal cliff deal in washington. house speaker john boehner said he has a backup plan. but that's not enough for one in three americans who according to a new survey are cutting back on spending due to fears of going over that cliff. nbc's tracie potts joins us now with more. good morning. >> reporter: mara, good morning. good morning, everyone. there is brand new evidence in that survey that americans are really feeling the squeeze before we've even gone over the cliff, plus republicans are changing their strategy. republicans are planning a vote as early as tomorrow to keep taxes low for everyone making up $1 million. >> going to have to go to plan "b." because we want to make sure we do not go off the cliff. >> everyone should understand boehner's proposal will not pass the senate. >> reporter: president obama offered a lower threshold, 400,000. >> the president has come halfway. he hopes that the republicans will do the same. >> reporter: republicans see this million dollar vote as a last-ditchest to save busines
. >>> though there seems to be progress still no fiscal cliff deal in washington. house speaker john boehner said he has a backup plan. but that's not enough for one in three americans who according to a new survey are cutting back on spending due to fears of going over that cliff. nbc's tracie potts joins us now with more. good morning. >> reporter: mara, good morning. good morning, everyone. there is brand new evidence in that survey that americans are really feeling the...
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Dec 7, 2012
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. >>> back here at home, as the fiscal cliff standoff continues in washington, the president took his plan out of town to northern virginia, where he sat down with a middle class family to talk about the potential impact they face from the looming fiscal cliff. it's now just 25 days away. nbc's tracie potts joins us with the details from washington. tracie, good morning to you. >> reporter: lynn, good morning. the white house has been all over social media with this one, asking what would happen if your family had to pay another $2,200 next year in taxes? 100,000 people responded, including that northern virginia family that the president met with yesterday. they said $2,200 for them is a couple months' rent. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives you a sense of the costs involved in very personal terms. >> reporter: the other big issue here on capitol hill, raising the debt limit. the president wants a new authority. mitch mcconnell filibustered his own bill. the senate minority leader filibustered
. >>> back here at home, as the fiscal cliff standoff continues in washington, the president took his plan out of town to northern virginia, where he sat down with a middle class family to talk about the potential impact they face from the looming fiscal cliff. it's now just 25 days away. nbc's tracie potts joins us with the details from washington. tracie, good morning to you. >> reporter: lynn, good morning. the white house has been all over social media with this one, asking...
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Dec 31, 2012
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one thing we do want to point out, though, despite the concerns about the fiscal cliff and washington's inability to address it, the markets have had a fairly decent year. the dow is going to close -- if we close where we are right now, up almost 6%. the s&p is up 11.5% and the nasdaq is up just about 13.6%. so, all of this reflects the improvement that we had seen in the economy. of course, the concerns are that those improvements will be hindered if we don't have some action from washington. mika? >> all right, you're also looking at 2012 in review as it pertains to our economy. there were certainly some good things that happened. >> there were, and i think what you have to look at specifically is the housing sector. you know, ever since the bursting of the housing bubble, this has been an area that's struggled, but we have seen continued improvement in the housing sector, most recently on the strong pending home sales numbers for the month of november. and so, that's a bright spot. also, auto sales on track to have their best year since 2007. so, those are two areas you can look at a
one thing we do want to point out, though, despite the concerns about the fiscal cliff and washington's inability to address it, the markets have had a fairly decent year. the dow is going to close -- if we close where we are right now, up almost 6%. the s&p is up 11.5% and the nasdaq is up just about 13.6%. so, all of this reflects the improvement that we had seen in the economy. of course, the concerns are that those improvements will be hindered if we don't have some action from...
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Dec 31, 2012
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cliff? >> yes. i think clearly there are. one sign that people are trying to prepare the way for americans not to take it so seriously, after months of talking about the catastrophic consequences of going over the fiscal cliff, you see people now at the white house, on the hill, in both parties talking about it as a slope, not a cliff. that there will be a deal early in the new year if not one by new year's eve. so i think clearly both sides think it is now likely that we'll go over the cliff and that they want to argue it's not so catastrophic. in fact, as you say, especially for a liberal democrats they see some advantages to going over the cliff, blaming republicans and starting with kind of hitting the reset button when it comes to this debate. >> well, you had apparently democrats giving in on the estate tax. yesterday we saw that the republicans withdrew their demands on social security but now you have i mean what is arguably a much more difficult negotiation which is over concessions
cliff? >> yes. i think clearly there are. one sign that people are trying to prepare the way for americans not to take it so seriously, after months of talking about the catastrophic consequences of going over the fiscal cliff, you see people now at the white house, on the hill, in both parties talking about it as a slope, not a cliff. that there will be a deal early in the new year if not one by new year's eve. so i think clearly both sides think it is now likely that we'll go over the...
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Dec 24, 2012
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as we talk did bsh we've been talking about the stalemate for weeks now about the fiscal cliff in washington d.c. how many affect does that really have on consumers during the holiday season? >> i'm surprised it hasn't had more of an affect. we're really only starting to see it seep into consumer thinking, i think, in the last few days, and to hear that washington has basically left town. it looks very dire for some kind of big deal, and, yet, holiday spending seems to be holding up so far. i mean, anecdotally is t seems to be holding up anyway. we won't know for sure until after the holidays. they seem to be saying, yeah, we know there's some problem in washington, but it's almost as if they're tuning it out and saying we're just going to get along with our holiday. >> as we wait to find the final analysis of what this holiday season really meant, we can talk about the marketses and what we're witnessing there because they were down on friday tumbling about 1% after the republican plan b failed to really get any liftoff and get off the ground. as you say, washington basically shutting down
as we talk did bsh we've been talking about the stalemate for weeks now about the fiscal cliff in washington d.c. how many affect does that really have on consumers during the holiday season? >> i'm surprised it hasn't had more of an affect. we're really only starting to see it seep into consumer thinking, i think, in the last few days, and to hear that washington has basically left town. it looks very dire for some kind of big deal, and, yet, holiday spending seems to be holding up so...
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Nov 17, 2012
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here is what that fight over the fiscal cliff in washington comes down to. the president and the democrats say the wealthy should pay a little more while the republicans say the wealthy already pay too much. let them keep their money, and they'll create jobs for the rest of us they say. well, a little historic perspective shows why the republican argument is false. and veteran journalist hedrick class has been squeezed financially. and sidelined politically. the average worker's salary remained flat and retirement security has largely disappeared. but the pay for ceos has skyrocketed from 40 times the salary of the average company worker in 1980 to 400 times it by 2000 all made possible thanks to powerful corporate interests in washington which shifted the balance of power politically. herick smith joins us now. rick, thank you so much for coming in. i'm going to let you make your message without a lot of q & a. what is the kernel of how people have been squeezed? because they know they've been squeezed. >> everybody tells us the middle class has been squeez
here is what that fight over the fiscal cliff in washington comes down to. the president and the democrats say the wealthy should pay a little more while the republicans say the wealthy already pay too much. let them keep their money, and they'll create jobs for the rest of us they say. well, a little historic perspective shows why the republican argument is false. and veteran journalist hedrick class has been squeezed financially. and sidelined politically. the average worker's salary remained...
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Nov 17, 2012
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here is what that fight over the fiscal cliff in washington comes down to. the president and the democrats say the wealthy should pay a little more while the republicans say the wealthy already pay too much. let them keep their money, and they'll create jobs for the rest of us they say. well, a little historic perspective shows why the republican argument is false. and veteran journalist hedrick smith offers that perspective in his new book "who stole the american dream." in the last 40 years, the middle class has been squeezed financially. and sidelined politically. the average worker's salary remained flat and retirement security has largely disappeared. but the pay for ceos has skyrocketed from 40 times the salary of the average company worker in 1980 to 400 times it by 2000 all made possible thanks to powerful corporate interests in washington which shifted the balance of power politically. herick smith joins us now. rick, thank you so much for coming in. i'm going to let you make your message without a lot of q & a. what is the kernel of how people have
here is what that fight over the fiscal cliff in washington comes down to. the president and the democrats say the wealthy should pay a little more while the republicans say the wealthy already pay too much. let them keep their money, and they'll create jobs for the rest of us they say. well, a little historic perspective shows why the republican argument is false. and veteran journalist hedrick smith offers that perspective in his new book "who stole the american dream." in the last...
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Nov 28, 2012
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makes you wonder if they'll be talking about this, the austerity crisis, better known as the fiscal cliff facing washington and the country. this hour president obama will speak live at the white house flanked by middle-class families whose household budgets depend on congress reaching a deal by january 1st. his latest effort to use his bully pulpit. nearby on capitol hill, both parties are meeting behind closed doors at this very minute. each side hashing out where they are willing to compromise and where they are drawing the line in the sand. >>> the other big story we're watching for you, a second round of sitdowns for united nations ambassador susan rice, who's in an all-out campaign of her own to face her critics. after three republicans issued blistering comments yesterday, this morning rice is meeting with republican senator susan collins of maine and in an hour is expected to meet with senator bob corker of tennessee. rice's harshest krit eks are still vowing to block her potential nomination as next secretary of state. >> i think everybody gets to, one, be nominated, and, two, go
makes you wonder if they'll be talking about this, the austerity crisis, better known as the fiscal cliff facing washington and the country. this hour president obama will speak live at the white house flanked by middle-class families whose household budgets depend on congress reaching a deal by january 1st. his latest effort to use his bully pulpit. nearby on capitol hill, both parties are meeting behind closed doors at this very minute. each side hashing out where they are willing to...
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Dec 11, 2012
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making progress on the fiscal cliff in washington, d.c. with the clock ticking away just days left for congress to reach a deal. are we any closer? >>> plus, a staple in hundreds of thousands of african-american homes for decades. "jet" magazine not afraid to make history and doing it again with a ground breaking announcement. >>> supreme court justice scalia raising eyebrows with a comment he made about murdered and homosexuality. if we cannot have moral feelings against homosexuality can we have it against murder, can we have it against other things? our big question for you is should a supreme court justice equate the morality of human sexuality with murder? tweet me at thomasaroberts or find me on facebook. anncr: some politicians seem to think medicare and... social security are just numbers in a budget. well, we worked hard for those benefits. we earned them. and if washington tries to cram decisions about the future... of these programs into a last minute budget deal... we'll all pay the price. aarp is fighting to protect seniors wi
making progress on the fiscal cliff in washington, d.c. with the clock ticking away just days left for congress to reach a deal. are we any closer? >>> plus, a staple in hundreds of thousands of african-american homes for decades. "jet" magazine not afraid to make history and doing it again with a ground breaking announcement. >>> supreme court justice scalia raising eyebrows with a comment he made about murdered and homosexuality. if we cannot have moral feelings...
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Nov 13, 2012
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a down day with stocks with investors worried about upcoming meetings on the fiscal cliff in washington. the dow down 59, the slp slips 5 and the nasdaq lower by 20. home depot bucked the trend ending 4% higher. earnings ahead of expectations. after the closing bell earnings from cisco systems beat estimates. revenue was also better than expected sending shares up after hours. that's it from cnbc. we're first in business worldwide. now back to "hardball." ♪ >>> welcome back to "hardball." today president obama began another campaign to get both democrats and republicans working together to avoid the economic mess that looms ahead. the so-called fiscal cliff. well, today he met with labor leaders and leaders in the progressive opportunity to soften the ground for a deal and found out how much leeway they will give him. here is president richard trump ka immediately after the meeting. >> we're committed to making sure that the middle class and workers don't end up paying the tab for a party that we didn't get to go to, and the president is committed to that as well. are we going to coll
a down day with stocks with investors worried about upcoming meetings on the fiscal cliff in washington. the dow down 59, the slp slips 5 and the nasdaq lower by 20. home depot bucked the trend ending 4% higher. earnings ahead of expectations. after the closing bell earnings from cisco systems beat estimates. revenue was also better than expected sending shares up after hours. that's it from cnbc. we're first in business worldwide. now back to "hardball." ♪ >>> welcome back...
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Dec 26, 2012
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we have seen some of the impacts of the fiscal cliff. consumers saying they have been more cautious with their holiday spending because of the uncertainty in washington. economists warn it could get worse and the markets could be foiled if we go over the fiscal cliff. taxes will go up for the average american by about $2,000 and could put us back into a recession. >> which nobody wants to see. kristen welker in hawaii. the president is coming back, but they haven't gotten the 48 hour notice. they are very much out there in play. thank you very much for joining us. appreciate it. when the senate returns tomorrow morning, there will be a new emphasis on members taking a larger role in the fiscal cliff negotiations that based off the current offer may only have a smaller deal. a member of the budget committee and outspoken voice on the left side of the aisle. thanks for joining me. good morning. >> mire pleasure. >> we were saying a lack of urgency in washington to deal with the fiscal cliff and being a member of congress especially a respe
we have seen some of the impacts of the fiscal cliff. consumers saying they have been more cautious with their holiday spending because of the uncertainty in washington. economists warn it could get worse and the markets could be foiled if we go over the fiscal cliff. taxes will go up for the average american by about $2,000 and could put us back into a recession. >> which nobody wants to see. kristen welker in hawaii. the president is coming back, but they haven't gotten the 48 hour...
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Aug 11, 2012
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on how they go about the fiscal cliff? >> well, i'm just not certain there's that mandate that exists yet. i mean, there's a lot going on
on how they go about the fiscal cliff? >> well, i'm just not certain there's that mandate that exists yet. i mean, there's a lot going on
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the first of three meetings this week about the looming fiscal cliff. joining me now from washington d.c. is former 2012 obama travel secretary is st. i got to get your reaction to the president's re-election team. and the fact that out on the campaign trail, no one heard about this petraeus stuff? none of you guys were talking about this in social circles to think that something big was coming like that. >> no one knew. no one still knows. there's an ongoing investigation. obviously, the department of defense has an ongoing investigation looking into general allen's case. general petraeus stepped down on his own accord. >> jen, as we talk about what is now part of the public discussion, the petraeus situation now looking at this investigation into general allen, and big shakeups that were expected to come anyway within the president's cabinet when we talk about at state, at defense and things like that, do you have a feeling which way the president is going to go first in terms of these cabinet slots to fill? >> i don't think anyone knows that except f
the first of three meetings this week about the looming fiscal cliff. joining me now from washington d.c. is former 2012 obama travel secretary is st. i got to get your reaction to the president's re-election team. and the fact that out on the campaign trail, no one heard about this petraeus stuff? none of you guys were talking about this in social circles to think that something big was coming like that. >> no one knew. no one still knows. there's an ongoing investigation. obviously, the...
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Nov 4, 2012
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david brooks in his column writes about the fiscal cliff which happens at the end of this year, big tax increases and also cuts. here's what he writes.er if obama wins, he'll probably romney is more flexible than obama. he has more influence in washington. he is more likely to get big stuff done. savannah, this is a key question. >> it is. and the president has banked on the fact that the election will solve these issues, litigate the issues of whether the bush tax i breaks should be rolled back for the wealthiest of americans. when he caved on that, he said he will answer this two years later with the election. he is also banking on the fact that the republicans will want to work with him after the election. especially when you look at the makeup of congress not likely to change. we'll have the same set of circumstances potentially if obama wins, and yet he is promising that the fever will break post-election. he's got a lot riding on it. >> i think it's going to be a status quo election. and i think if romney wins, for example, he still is looking at a house of representatives that ha
david brooks in his column writes about the fiscal cliff which happens at the end of this year, big tax increases and also cuts. here's what he writes.er if obama wins, he'll probably romney is more flexible than obama. he has more influence in washington. he is more likely to get big stuff done. savannah, this is a key question. >> it is. and the president has banked on the fact that the election will solve these issues, litigate the issues of whether the bush tax i breaks should be...
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so fiscal cliff is all the talk of washington, obviously. but you guys are writing this morning, your headline about the other fiscal fight, which is, again, the debt ceiling. >> yeah, i think people forget we have essentially three blink moments, sequestration, the debate, and we hit the debt limit probably some time in february. and you have to raise the debt limit unless you take the posture that some folks in the democratic party are recommending and saying just raise it unilaterally, have the president do that. i don't think that's what they want to do right now. in the past, congress has had to raise that debt limit. and as you know, house republicans aren't playing around. they don't want to raise the debt limit, don't want to spend more money. if you're a tea party freshman or sophomore now, that's the only issue you ran on. i'm not going to expand the size of government and that is the blink moment for them. i don't think there's a majority of republicans in the house that would vote to increase the debt limit unless forced to by jo
so fiscal cliff is all the talk of washington, obviously. but you guys are writing this morning, your headline about the other fiscal fight, which is, again, the debt ceiling. >> yeah, i think people forget we have essentially three blink moments, sequestration, the debate, and we hit the debt limit probably some time in february. and you have to raise the debt limit unless you take the posture that some folks in the democratic party are recommending and saying just raise it unilaterally,...
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Jan 2, 2013
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the fiscal cliff showdown in washington. the house gop leadership considered an amended version of the senate's fiscal cliff bill, which would include around $330 billion in spending cuts. nbc news is reporting there are not enough votes for the amended bill to pass. now, without those needed votes, speaker john boehner is prepared to bring the senate deal to the house floor for an up-and-down vote possibly tonight. the senate bill is expected to get around 170 democratic votes in the house, meaning it will need roughly 50 republican votes to pass. now these developments come after house republicans were on the verge of rejecting the senate bill earlier today. house gop leader eric cantor telling the caucus he could not support the bill without spending cuts. all right. let's turn to nbc's mike viqueira who has been covering all the latest developments from washington on this. so vic, the reason we're in this place, this has something to do with a fig leaf? >> well, i think so. i think plainly what happened here is after it
the fiscal cliff showdown in washington. the house gop leadership considered an amended version of the senate's fiscal cliff bill, which would include around $330 billion in spending cuts. nbc news is reporting there are not enough votes for the amended bill to pass. now, without those needed votes, speaker john boehner is prepared to bring the senate deal to the house floor for an up-and-down vote possibly tonight. the senate bill is expected to get around 170 democratic votes in the house,...
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Jan 3, 2013
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the fiscal cliff, wrote the washington post, in a nod to marco rubio voting no on the deal, while paul ryan in a surprise move to some voted yes. standing by house speaker john boehner. ryan explained his yes vote this way saying, "i came to congress to make tough decisions, not to run away from them." rubio, the rising florida senator, had a different view on the matter saying, i appreciate all the hard work that went into avoiding the so-called fiscal cliff, nevertheless, i cannot support the arrangement they have arpg arrived at." it should also be noted that kentucky senator rahn paul who said he may run for president in the tradition of his father, also voted no. then, of course, you had a visibly angry chris christie yesterday who has no qualms about taking a few swipes at his own party when it benefits him politically. at a testy press conference, christie also reverted to tradition by chewing out a reporter, which was red meat for a base of republicans who might otherwise question his more moderate positions. all of which is to say the usual behind the scenes 2016 maneuvering i
the fiscal cliff, wrote the washington post, in a nod to marco rubio voting no on the deal, while paul ryan in a surprise move to some voted yes. standing by house speaker john boehner. ryan explained his yes vote this way saying, "i came to congress to make tough decisions, not to run away from them." rubio, the rising florida senator, had a different view on the matter saying, i appreciate all the hard work that went into avoiding the so-called fiscal cliff, nevertheless, i cannot...
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." >>> could going over the fiscal cliff be just what washington has wanted all along? >>> millions of americans are getting battered by a third severe storm with drenching rains, chevy snow and strong winds. details ahead. >>> and the stars were out last night for the kennedy center's honors. members of led zeppelin, david letterman, dustin hoffman and many others. we'll have that and much more coming up this monday morning on "first look." and a very good morning to you. i'm veronica de la cruz. one solution being heard more and more about solving the nation's financial showdown could be actually allowing the deadline to pass and letting america go over the fiscal cliff. that would allow tax rates to rise on everybody. then congress could come back after the new year and cut taxes on everyone but the wealthy. nbc's mike viqueira has the story. >> reporter: administration optimism for a deal. but only if republicans give in on raising rates for the wealthy. >> you think we'll get a deal by the end of the year? >> i do. the only thing that stands in the way of a deal ri
." >>> could going over the fiscal cliff be just what washington has wanted all along? >>> millions of americans are getting battered by a third severe storm with drenching rains, chevy snow and strong winds. details ahead. >>> and the stars were out last night for the kennedy center's honors. members of led zeppelin, david letterman, dustin hoffman and many others. we'll have that and much more coming up this monday morning on "first look." and a very...
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. >>> and a senior gets ready to ride over the fiscal cliff after decades in washington. find out what he thinks about changing the senate's rules and working with five presidents. he's the latest in our senate spit interview interviews. i'm chuck todd. susan rice will not be the next secretary of interstate, even after the prospect of her being the next secretary of state. susan rice announcing her decision yesterday to nbc's brian williams. >> i didn't want to see a c confirmation process that was very prolonged, very politicized, very distracting and very disruptive. because there are so many things we need to get done as a country. >> were you set up? were you a victim of circumstance? bad data, bad information? >> i'm not a victim, i wasn't set up. you know, brian, i think it's best. i know who i am. i see myself on the television screen in all my different outfits. we're in a sad place, frankly when national security, national security officials, who are sitting in their jobs, serving the american people every day, and potential candidates for secretary of state get
. >>> and a senior gets ready to ride over the fiscal cliff after decades in washington. find out what he thinks about changing the senate's rules and working with five presidents. he's the latest in our senate spit interview interviews. i'm chuck todd. susan rice will not be the next secretary of interstate, even after the prospect of her being the next secretary of state. susan rice announcing her decision yesterday to nbc's brian williams. >> i didn't want to see a c...
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Nov 12, 2012
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cliff, where the debate turns in washington after the election. let's remind our viewers what we mean when we talk about the fiscal cliff. this is what is happening at the end of the year. the bush tax cuts expire, so taxes go up. the emergency unemployment benefits end. the 2011 payroll tax holiday expires. the alternative minimum tax kicks in. taxes automatically go up. plus, at the same time, you have nearly $1 trillion in spending cuts that are automatic. that's what we mean by the sequester. half of that in defense. also non-defense cuts are triggered. that's what has to be averted, senator coburn. and here's my bottom line question. my view is that if there's a mandate from this election it's about compromise in washington. so what pain do republicans have to accept to get to a deal in your judgment? >> well, i think you heard the speaker of the house put forward that they're ready for the president to lead. they're ready to agree to revenue increases. but i think they're also interested in making sure that we downsize appropriately the fede
cliff, where the debate turns in washington after the election. let's remind our viewers what we mean when we talk about the fiscal cliff. this is what is happening at the end of the year. the bush tax cuts expire, so taxes go up. the emergency unemployment benefits end. the 2011 payroll tax holiday expires. the alternative minimum tax kicks in. taxes automatically go up. plus, at the same time, you have nearly $1 trillion in spending cuts that are automatic. that's what we mean by the...
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cliff negotiations in washington, d.c. nbc's mike viqueira is standing by on capitol hill. mike, i guess the big head line to come out of this other than the old christmas adage about the ifs, ands, buts, is the fact it's tied mainly to negotiation? >> yeah, if you spend any time around here, andy, two things are going to happen to you as a reporter, you're going to be insulted by john boehner, and you're going to hear him say ifs ands and buts were nuts -- would you put something on the floor that didn't have a majority of republicans to vote for? that really is a threshold question. what he's asking, would you allow a vote on allowing those tax rates for the richest mer e americans to go up, would you allow the house of representatives to vote on it? hedging response from speaker john boehner which is in itself interesting. basically what we have here, back to square one. there's no visible movement. i'm told over the course of yesterday there were no phone calls. whatever meetings or conversations took place, it went ab
cliff negotiations in washington, d.c. nbc's mike viqueira is standing by on capitol hill. mike, i guess the big head line to come out of this other than the old christmas adage about the ifs, ands, buts, is the fact it's tied mainly to negotiation? >> yeah, if you spend any time around here, andy, two things are going to happen to you as a reporter, you're going to be insulted by john boehner, and you're going to hear him say ifs ands and buts were nuts -- would you put something on the...
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according to a recent study, the fiscal cliff gridlock in washington has taken a tol. a new survey by the conference board shows levels in the first half of december falling to the lowest level since august. an unexpectedly sharp decline. the survey indicates that consumer anxiety stems from worries about the fiscal future and not from the current state of the economic. >> that's completely true. if you look at a lot of economic indicators they're good. the housing market is stabilizes and unemployment is ticks down. companies that have a lot of cash on balance sheets, but this december drop in can confidence, it's hard to think about what this would be about, if not the cliff. >> it's what you said. if you noted you may face thousands of dollars in increases if you're a married couple in taxes, if you're existing on unemployment insurance that may not be there in january, why would you go on a shoppi ping spree or shopping all if you can avoid it? people keep saying, well, it won't be that bad for long. that's according to how long you have money. if you're middle cla
according to a recent study, the fiscal cliff gridlock in washington has taken a tol. a new survey by the conference board shows levels in the first half of december falling to the lowest level since august. an unexpectedly sharp decline. the survey indicates that consumer anxiety stems from worries about the fiscal future and not from the current state of the economic. >> that's completely true. if you look at a lot of economic indicators they're good. the housing market is stabilizes...
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despite what steve might tell you watching fiscal cliff nonsense in washington can make you feel powerless. our next guest is here with the tips on how to make -- take some of you power back. joining us is rick newman, chief business correspondent for "u.s. news & world report" and author of "rebounders." so tell us, what can the average person do to sort of thwart against the realities of the fiscal cliff? >> my first tip is just relax. it's not going to be armageddon right off the bat. i mean, it is worth pointing out we hear the humongous figures like $500 billion in tax increases and stuff like that. most of those will not affect people until it's time to fill out the tax returns and won't happen until 2014. say the tax rates go up, the government is not going to automatically withhold more money from the paycheck and the tax rates can be in effect for most of the year. we hope they're not but congress could rescind them toward the end of the year and one thing to affect you is the payroll tax cut, two percentage points and spoebed to be temporary anyway. >> rick, one of the suggestion
despite what steve might tell you watching fiscal cliff nonsense in washington can make you feel powerless. our next guest is here with the tips on how to make -- take some of you power back. joining us is rick newman, chief business correspondent for "u.s. news & world report" and author of "rebounders." so tell us, what can the average person do to sort of thwart against the realities of the fiscal cliff? >> my first tip is just relax. it's not going to be...
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one of the big parts of the fiscal cliff is the sequester and washington kicked that can down the road and they'll deal with that in two more months and that will be another fiscal cliff, so i think that it's a real possibility, and it's also something that every time this happens, and it really does put the economy in jeopardy and you remember in the summer of 2011 the nation had its credit rating downgraded so the effects in the economy is quite real and serious and that's what's at the backdrop of all of this. >> kristen welker, we'll check back in with you later in the show. >> it's beginning to sound like a broken record on capitol hill as they start to gear up with the political fight, and is there a way for the white house to bypass congress and avoid another battle. jonathan allen and msnbc's, and perry bacon, jr., with the conversation. jonathan, you covered the hill and do so extensively and "the washington post" is reporting that democratic senate leaders are advising the white house to go arc comed do that and bypass congress on this issue. i'll show everybody this letter t
one of the big parts of the fiscal cliff is the sequester and washington kicked that can down the road and they'll deal with that in two more months and that will be another fiscal cliff, so i think that it's a real possibility, and it's also something that every time this happens, and it really does put the economy in jeopardy and you remember in the summer of 2011 the nation had its credit rating downgraded so the effects in the economy is quite real and serious and that's what's at the...
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everyone i talked to in washington wants to avoid going over the fiscal cliff. and most importantly, they don't want to get the blame for it. that's why republicans will probably be motivate d to negotiate with the white house. it might be christmas eve, but in the end, that's what's going to bring them to the table. >> he said after a week or two, there would be the negotiations. he said instead of a cliff, it was like a curb. david, if americans, though, are going to blame the gop more so than the president, how much leverage does that give the president as negotiations are underway? >> i think it gives him substantial leverage right now. that's why you see him not revealing all his cards saying you have to come to us. speaker ba speaker boehner has to start with this. e he would look his speakership. and said sure, mr. president, we lost the election. this has to be his starting position. it's only december 2nd. we have a month, i think, lindsey graham saying we're going to go over the cliff. i don't buy that either. we have a motto get through this. you will
everyone i talked to in washington wants to avoid going over the fiscal cliff. and most importantly, they don't want to get the blame for it. that's why republicans will probably be motivate d to negotiate with the white house. it might be christmas eve, but in the end, that's what's going to bring them to the table. >> he said after a week or two, there would be the negotiations. he said instead of a cliff, it was like a curb. david, if americans, though, are going to blame the gop more...
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so ryan, we've got the president heading back to washington to head off the fiscal cliff. but he's also got some second term appointments on his agenda. one being the next secretary of defense. did you expect to see chuck hagel of all people so embattled from both sides? >> well, yes, sort of. yourn, you know that john mccain hates the guy. you know, he -- and he didn't create a lot of friends toward the end of his time and throughout most of his time as a senator. because he didn't really tow the party line on policy. he broke with republicans on the iraq war. and so he oftentimes would give democrats a way of saying what they were doing was bipartisan and then had the sheen of the veblt of a guy like hagel so it's this guy that's been a thorn in their side the whole time. now here he is he might be elevated to secretary of defense. and you could see that's going to bother the same types of people that seem to be bothered by every other person that's floated by obama. and that's mccain and graham and those fellas. >> but we've heard about this mccain not liking or hating
so ryan, we've got the president heading back to washington to head off the fiscal cliff. but he's also got some second term appointments on his agenda. one being the next secretary of defense. did you expect to see chuck hagel of all people so embattled from both sides? >> well, yes, sort of. yourn, you know that john mccain hates the guy. you know, he -- and he didn't create a lot of friends toward the end of his time and throughout most of his time as a senator. because he didn't...
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with america on the fiscal cliff, sorry, will washington elect to make the tough choices? [ male announcer ] how do you trade? with scottrader streaming quotes any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. my doctor told me calcium is efficiently absorbed in small continuous amounts. citracal slow release continuously releases calcium plus d with efficient absorptio citracal slow release. >>> why are upset? >> they said i can't vote. >> why can't you vote? i'm not 18 years old. >> how does it make you feel? >> like i'm feeling. >> certainly a tough night for that little boy, i guess. but also for republicans who are hoping to pick up some seats in the u.s. senate. i'm here in the nation's capital where the face of congress is
with america on the fiscal cliff, sorry, will washington elect to make the tough choices? [ male announcer ] how do you trade? with scottrader streaming quotes any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another...
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Dec 29, 2012
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now, there are a lot of dumb things about this fiscal cliff time bomb that washington is about to set off, but this one right here, this may take the cake as the single stupidest thing we could possibly do in this economy. providing unemployment insurance to people without jobs in addition to being the right thing to do, it is crazy stimulative. it is stimulus on steroids. when you give people money to spend and they don't have a job, when they done have any other money coming in. you know what they do with that money? they spend it. they spend pretty much all of it. they spend it on gas, on groceries, on bills, on rent, on clothing for their children. that is real money, and it goes right back into the real economy, to be spend again. it is not like tax cuts, where a big chunk gets saved. this money gets spent and spent quick. it helps the economy. cutting that off, all at once, means you take that money out of an economy, just beginning to get back on its feet. earlier this year, the congressional budget office looked at the economic impact of unemployment insurance. they found exte
now, there are a lot of dumb things about this fiscal cliff time bomb that washington is about to set off, but this one right here, this may take the cake as the single stupidest thing we could possibly do in this economy. providing unemployment insurance to people without jobs in addition to being the right thing to do, it is crazy stimulative. it is stimulus on steroids. when you give people money to spend and they don't have a job, when they done have any other money coming in. you know what...
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yesterday federal reserve chair ben bernanke chastised washington saying the fiscal cliff is already bringing damage to americans. >> why is it that small business confidence dropped so sharply? why are the markets so volatile, even though we've not nn reached the point of the fiscal cliff potentially kicking in, it's already affecting business investment and hiring decision business creating uncertainty or creating pessimism. >> washington, wake up. you're hearing from bernanke, you're hearing from the american people. just get this done. finally, the president faced foreign policy flare-ups around the world this year. its aftermath eroded confidence in obama's overall foreign policy rating. public approval for the president has bounced back to pre-benghazi levels. 52% approve, 40% disapprove. his potential pick for secretary of state, she is taking on water. u.n. ambassador susan rice's personal rating upside down. first time we've ever tested her. a third of the voters say they don't know who she is. that's amazing that only a third of voters doesn't know who she is. among those w
yesterday federal reserve chair ben bernanke chastised washington saying the fiscal cliff is already bringing damage to americans. >> why is it that small business confidence dropped so sharply? why are the markets so volatile, even though we've not nn reached the point of the fiscal cliff potentially kicking in, it's already affecting business investment and hiring decision business creating uncertainty or creating pessimism. >> washington, wake up. you're hearing from bernanke,...
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we begin with where things stand on the fiscal cliff. david corn is the washington bureau chief for mother jones magazine and msnbc contributor, jared bernstein was chief economic adviser to vice president biden. gentlemen, president obama tonight said he had spoken with speaker boehner in addition to meeting with senate majority leader harry reid. >> i just spoke to speaker boehner, and i also met with senator reid. in the next few days, i've asked leaders of congress to work toward a package that prevents a tax hike on middle-class americans, protects unemployed for 2 million americans and lays the groundwork for deficit reduction. that's an achievable goal. that can get done in ten days. once this legislation's agreed to, i expect democrats and republicans to get back to washington and have it pass both chambers. >> jared bernstein, is this actually a setback for the president insofar as the embarrassed speaker was someone at least with whom he was dealing and now the president really doesn't have a negotiation partner? >> i don't thi
we begin with where things stand on the fiscal cliff. david corn is the washington bureau chief for mother jones magazine and msnbc contributor, jared bernstein was chief economic adviser to vice president biden. gentlemen, president obama tonight said he had spoken with speaker boehner in addition to meeting with senate majority leader harry reid. >> i just spoke to speaker boehner, and i also met with senator reid. in the next few days, i've asked leaders of congress to work toward a...
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for more on the deal, joining me now, our resident fiscal cliff deal experts, "the washington post" ezra klein, and jared bernstein, since joe biden was so key in putting together this deal, give me your take on the deal. >> look, i think the deal was kind of a small step in absolutely the right direction. i'm not quite as bullish in many ways as you just sounded, although i thought your argument was very compelling. i kept telling myself as i listened to you, i thought this was kind of dysfunctional the way you just went through it. made it sound a lot better. and i thought you made a lot of compelling points, lawrence, look i thought the revenue was a little bit light. i also thought the debt ceiling, the sequester, hits again, comes back in march, the automatic spending cuts. i thought the estate tax, the democrats met the republicans a little bit more on their side of the field on that one. but look, the general point moves in the right direction. $600 billion in revenue over ten years. the unemployment, i don't think you mentioned a set of refundable tax credits to help the low inco
for more on the deal, joining me now, our resident fiscal cliff deal experts, "the washington post" ezra klein, and jared bernstein, since joe biden was so key in putting together this deal, give me your take on the deal. >> look, i think the deal was kind of a small step in absolutely the right direction. i'm not quite as bullish in many ways as you just sounded, although i thought your argument was very compelling. i kept telling myself as i listened to you, i thought this was...
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this is msnbc's coverage of the fiscal cliff showdown in washington. we are staying with you until we do get a final vote in the house, we'll watch that picture right there. house speaker john boehner was able to silence a revolt in his over party, that happened earlier and will bring a bill to the vote. which will happen shortly. the senate bill passed early this morning and extends the bush tax cuts for 98% of american households. a large number of house republicans said they would not support the bill without adding spending cuts. however, they did not have the votes needed to advance an amended bill. joining us now from the capitol is john stanton, washington bureau chief, okay john, do we have a deal when this comes to the floor for a vote in about an hour or so? >> yeah it looks like they have the final votes for it. it should be about 217-218, which is a minimum number of votes, essentially 250 or 60 depending on how many come along with speaker boehner and part of his leadership team. and it looks likes nancy pelosi will be able to deliver, did
this is msnbc's coverage of the fiscal cliff showdown in washington. we are staying with you until we do get a final vote in the house, we'll watch that picture right there. house speaker john boehner was able to silence a revolt in his over party, that happened earlier and will bring a bill to the vote. which will happen shortly. the senate bill passed early this morning and extends the bush tax cuts for 98% of american households. a large number of house republicans said they would not...
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to resolve the so-called fiscal cliff. it's boehner and other gop leaders aren't going to herd 433 lawmakers back to town with nothing to do. when you hear that, and you know what's been going on and what's expected of you in the new year, what are your hopes for something small, maybe not as ambitious as a grand bargain but something small getting done before january 1st? >> i would like to see a grand deal. but we should do something. too many people hurt, folks i have gotten several calls from individuals. talking about christmas dinner, individuals, even in my home who are unemployed saying that, you know, unemployment runs out if we don't do anything. i have some others talking about scenario they would be placed in and had to explain to them what would or would not happen on january 1st. i'm hoping to do something and the speaker comes up with something so his folks agree on to keep america and americans moving forward. >> as we talk about when's taken place in washington, d.c. and speaker boehner's plan "b" that did
to resolve the so-called fiscal cliff. it's boehner and other gop leaders aren't going to herd 433 lawmakers back to town with nothing to do. when you hear that, and you know what's been going on and what's expected of you in the new year, what are your hopes for something small, maybe not as ambitious as a grand bargain but something small getting done before january 1st? >> i would like to see a grand deal. but we should do something. too many people hurt, folks i have gotten several...
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cliff, a bipartisan group of governors arrives in washington for a meeting. >> our focus today was not to endorse a specific plan nor to dismiss a specific plan, but rather to point out, as gary mentioned, as governors, we think it's important that we have a seat at the table. >> flash point serious, secretary clinton in brussels where nato leaders are sending patriot anti-defense missiles to turkey and warning syria of any thought of using chemical weapons. prince william leaves the hospital after visiting kate. she remains hospitalized for severe morning sickness. good day. i'm amount li-- andrea mitchell live in washington. the senate has managed to vote on something, rejected a u.n. treaty to extend rights to the blind and disabled, rights that have been the law of the land here in the united states since 1990. despite an emotional appearance from bob dole just out of walter reed, 89 years old, a passionate advocate for equal rights for the disabled since his first speech on the senate floor in 1969. joining me for our daily fix, kra, managing editor of post politics.com and capito
cliff, a bipartisan group of governors arrives in washington for a meeting. >> our focus today was not to endorse a specific plan nor to dismiss a specific plan, but rather to point out, as gary mentioned, as governors, we think it's important that we have a seat at the table. >> flash point serious, secretary clinton in brussels where nato leaders are sending patriot anti-defense missiles to turkey and warning syria of any thought of using chemical weapons. prince william leaves...
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after the bell, fed chief ben bernanke praised washington's recent fiscal cliff deal which he said probably would have caused a recession this year. but he cautioned, quote, we are not out of the woods yet, calling ongoing battles over spending cuts and the debt ceiling critical watersheds. >>> elsewhere, a troubling new report finds more than one in four workers are dipping into retirement funds to keep up with their current bills. apparently folks in their 40s are most likely to do that. >>> some good news, though, on the housing front. new numbers show home prices rose 7.5% in 2012, the most in six years thanks to improving demand and fewer foreclosures. >>> swiss group swatch is adding some sparkle to the brand, scooping up harry winston's luxury line of jewelry and watches for about $1 billion. >>> toyota has once again dethroned general motors as the world's top-selling automaker, selling just under 10 million vehicles last year. >>> coca-cola is taking some heat for its new ad campaign encouraging people to come together to fight obesity. critics say coke is just doing damage control
after the bell, fed chief ben bernanke praised washington's recent fiscal cliff deal which he said probably would have caused a recession this year. but he cautioned, quote, we are not out of the woods yet, calling ongoing battles over spending cuts and the debt ceiling critical watersheds. >>> elsewhere, a troubling new report finds more than one in four workers are dipping into retirement funds to keep up with their current bills. apparently folks in their 40s are most likely to do...
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then again, it could look like fiscal cliff part two. washington is washington, after all. telemundo jose diaz bullart lends his intelligence and wit to an increasingy horny topic. jose, it's wonderful to see you, as always. >> thank you, alex. what a pleasure. pleasure to see you. you know, it's interesting, alex. the folks that love -- i'm sorry. go ahead. >> oh, i was just going to say there has been this sense that everyone was going to settle under a rainbow and sit at the pot of gold and come up with comprehensive immigration reform, but now we are starting to see some fractures, some discussion that certain elements of the republican party are not going to be okay with a comprehensive immigration reform package. where do you stand on this? do you think that -- >> it's interesting. do think the process helped the gop among latino voters? >> no. no. it's interesting, alex, because the same people that love a tax amnesty hate apparently citizenship possibilities for 11 million people that have been here for many years. many of them have children and grandchildren born i
then again, it could look like fiscal cliff part two. washington is washington, after all. telemundo jose diaz bullart lends his intelligence and wit to an increasingy horny topic. jose, it's wonderful to see you, as always. >> thank you, alex. what a pleasure. pleasure to see you. you know, it's interesting, alex. the folks that love -- i'm sorry. go ahead. >> oh, i was just going to say there has been this sense that everyone was going to settle under a rainbow and sit at the pot...
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you talk about the fiscal cliff. rg3's knee, that's the story in washington today. redskins fans holding their breath as griffin was helped off the field. backup, curt cousins. 36 seconds left. connecting with pierre garcon for the touchdown. cousins was running the two-point conversion, we're headed to overtime. headed for 28. just over 1:00 gone punting to richard crawford. he gets to the 10 yard line. sprints up the sideline. finally run down the field after a 64 yard run sets up a 34 yard field goal to try to win it. it's good! redskins come back 31-28. they move to 7-6. >> after the game of course everyone wants to know how's his knee doing? mri came back negative for a torn acl. the diagnosis of sprained right knee. >> you're a doctor too in addition to a lot of guys. >> renaissance man. >> 245es very good. >>> the giengts needing a win over the saints to hold onto the nfc east lead. first quarter giants down a touchdown. this is david wilson. slightly fast. the rookie from virginia tech finds a little daylight. gone. kicker, come on, harley. he tried. well, w
you talk about the fiscal cliff. rg3's knee, that's the story in washington today. redskins fans holding their breath as griffin was helped off the field. backup, curt cousins. 36 seconds left. connecting with pierre garcon for the touchdown. cousins was running the two-point conversion, we're headed to overtime. headed for 28. just over 1:00 gone punting to richard crawford. he gets to the 10 yard line. sprints up the sideline. finally run down the field after a 64 yard run sets up a 34 yard...
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Nov 8, 2012
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to avoid that so-called fiscal cliff. nbc's tracie potts is in washington with the latest on that. tracie, good morning. >> reporter: good morning everyone. the party is over now in chicago. he's back here, and the real work begins starting with the economy including that fiscal cliff that you mentioned. taxes and budget problems that could kick in by the end of this year. >> i am looking forward to reaching out and working with leaders of both parties to meet the challenges we can only solve together. >> reporter: fresh off his election victory, president obama's already been on the phone with top democrats and republicans in congress urging them to compromise before america falls off the fiscal cliff. what's that? long-term unemployment benefits and the 2% payroll tax cut expiring, a big cut in medicare payments, and your taxes going up january 1 if congress doesn't act. plus, another $500 billion in cuts at the pentagon. boeing, the military's second largest supplier, already announced a second round of executive layoffs. >> nobody wants to see this fiscal cliff without a deal b
to avoid that so-called fiscal cliff. nbc's tracie potts is in washington with the latest on that. tracie, good morning. >> reporter: good morning everyone. the party is over now in chicago. he's back here, and the real work begins starting with the economy including that fiscal cliff that you mentioned. taxes and budget problems that could kick in by the end of this year. >> i am looking forward to reaching out and working with leaders of both parties to meet the challenges we can...
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Dec 31, 2012
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. >>> meantime, the fiscal cliff stand-off in washington continues. at this late hour the senate and house of representatives both went into recess, still no deal. republican senate leader mitch mcconnell reached out to vice president joe biden to help reach an agreement. two men who have served as their party's closers, so to speak, on tough deals before. senate majority leader harry reid says he plans to have a plan up for a vote tomorrow morning. although there are serious differences on both sides. >> we're not going to have any social security cuts at this stage, it just doesn't seem appropriate. i still hold out hope we can get something done but i'm not overly optimistic but i am cautiously optimistic. >> republicans pushed back on claims by democrats that the social security benefit measurement, which is known as the chained cpi and basically would reduce the amount of money that senior citizens get under social security, was part of the republican plan. in any case, that is off the table. senator john mccain posted this on twitter, most of us
. >>> meantime, the fiscal cliff stand-off in washington continues. at this late hour the senate and house of representatives both went into recess, still no deal. republican senate leader mitch mcconnell reached out to vice president joe biden to help reach an agreement. two men who have served as their party's closers, so to speak, on tough deals before. senate majority leader harry reid says he plans to have a plan up for a vote tomorrow morning. although there are serious...